Friday, July 11, 2008

Economy, Russia, Iran, Iraq, Afghanistan - Bad News All Around

Everywhere, on every news site, it seems there is nothing but conflict and bad news. The good news is... hold on, I am looking. Nope, I did not find any.

Just the top stories in "MyYahoo" is a litany of bad news, followed by worse.

It appears that the economic crisis we are facing today, with bank stocks melting (don't even ask how much I lost on Citibank alone), hundreds of thousands facing foreclosure, credit cards and others squeezing customers, oil trying to hit $200, is not going to get better any time soon.

Item one, at least on my view of "Top News from Reuters", is a report saying the government is mulling taking over Fannie Mae and Freddie Mac. What that means is that despite recent claims by their management, and top Bush economic officials, that the organizations have enough money, they in fact are preparing for a bailout. What that means for the rest of the economy, and for the American tax-payer, remains to be seen.

The second item shows that the Russians, still following the policies of Mr. Putin (whose eyes and soul apparently Mr. Bush seems to know intimately well), are actually using the recent Iranian missile tests as a reason for the USA NOT to deploy a missile shield. I am not quite sure I understand the "logic" of the Russians. I can understand them not wanting the US to deploy weapons systems that negate Russian military power, but using the (fairly) successful Iranian missile tests as a reason against that defies logic.

Wait, there is good news. The new iPhone is being snapped up by customers around the world. Great news. But, much that I love Apple and the iPhone, in the grand scheme of things, and in the serious issues we face, it is kind of silly for that news item to be displayed at par with the economic meltdown in America, the Russian military grumbling and the roar of Iranian rockets and potentially soon, Israeli jets.

The next item has me scratching my head. The Mexican government, which does not want to take back its 12 million illegal immigrants (including the many criminals and gang members they sent over), nor wants us to build a fence to keep these illegal hoards out of America, is taking us to court! And, not even our courts, but the 'World Court', where they are fighting to save five Mexican criminals from execution for deadly crimes committed in the USA! So, not only are we supposed to welcome their illegal riff-raff with open arms (doing which both Obama and McCain are falling over each other to show love for illegals), we are also supposed to welcome, and allow to roam free, those among them who commit murder or heinous crimes. Amazing.

For a second, my attention was caught by the next item - which could qualify as good news. Lebanon may be able to form a unity government. Whether that is good news or bad depends on which side of their internal strife you are on.

But, before I could dwell on that item, the last news item in that list of six top stories was just more bad news on several fronts.

Things in Afghanistan, the place where Bin Laden and his henchmen hid and planned their attacks on America, are getting worse. The Taliban are resurgent in Afghanistan, and we are losing soldiers in Iraq. The Afghan government is getting weaker and Bin Laden is nowhere to be found, and we are preparing for an attack on Iran.

And, what did we just manage to do? Our mistaken bombing just killed 47 civilians there, including women and children. Surely not a sign of success in winning hearts and minds. Bad, very bad, news.

With Bin Laden still out there, the Taliban attacking us and our allies more and more, Iraq still a morass, our economy in meltdown, and oil aiming for $200, what is a President to do... why, start a new war of course! Hello, Iran. Hello, $300 oil. Hello, total economic meltdown.